Offers for Rebar drop further by Rs 200-500/MT across India on subdued demand.
12 mm in Raipur
traded at Rs 36,500-600/MT i.e. down by Rs 200/MT. According to market players, “Demand is subdued and if the situation remains same , then few plants may decide to keep their
sales closed in the days to come”.
A Trader in Mumbai
also quoted the demand to be low. “Enquiries for TMT have dipped and a booking
of 30 MT was seen till afternoon”, he added further.
Market players in Indore
said, “No Fresh bookings are being seen. If the situation prevails for another
couple of days then a correction of Rs 500/MT would not be a surprise. Increasing
stocks with producers will also prompt them to cut production levels further”.
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